PMJM Supports UBS Loan in 2014 | Marape: Napu is misleading people
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The National, Friday 6th June 2014
FINANCE Minister James Marape said he was shocked to read suggestions made by lawyer John Napu against the K3 billion UBS loan.
Napu said Prime Minister Peter O’Neill, Treasurer Patrick Pruaitch and Acting Treasury Secretary Dairi Vele could be in breach of the Leadership Code by defying instructions of the Ombudsman Commission not to allow loan repayments to go ahead.
Napu, who represented sacked Treasurer Don Polye in a dismissed USB loan case against the Government, said the best option for the three men and Papua New Guinea was to cancel the loan.
Marape yesterday rubbished the suggestions.
“I am shocked by the comments made by John Napu,” Marape said.
“He does not know what he is talking about when it comes to this deal with the Oil Search share.
“More importantly it is not a new loan, it has never been a new loan. It is simply replacing another loan.
“He should get it into his head that this loan is replacing the IPIC loan, which we had for over many years to finance our participation in the LNG project
“We have not made any mistake or any error in our investment, it is only idiotic that people like John Napu who lacks commercial experience and knowledge and continue misleading our people on what the real benefits of these projects include.”
– one of our most important projects to the country and delivering huge benefits to the people of PNG and Government.
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